Tax

Over the limit: Withdrawing RRSP over-contributions

(February 2006) With the 2006 RRSP season soon drawing to a close, it’s inevitable that one or two of your clients may have inadvertently got themselves into an RRSP over-contribution situation. The most common source of over-contributions arises from clients who have a group RRSP program in which their employer makes contributions on your clients’ […]

February 24, 2006

3 min read

Report everything

(February 2006) At the end of the month, your clients will begin receiving their year-end statements. If they disposed of securities in 2005 they will also receive either a Canada Revenue Agency T5008 slip, known as a Statement of Securities Transactions or a customized statement from their dealer, broker or fund company detailing a list […]

February 2, 2006

4 min read

Spousal support: Financing togetherness

(January 2006) A spousal or common-law partner RRSP (hereafter referred to simply as a spousal RRSP) is one of the few explicitly legislated ways to income split between spouses or common-law partners. The primary benefit of a spousal RRSP is that funds withdrawn can be taxed in the hands of the annuitant spouse instead of […]

January 5, 2006

6 min read

Advanced solutions for charitable giving: Trusts, annuities and beyond

(December 2005) The holiday season is a time when many of your clients will be considering how they can give back to their communities, and will look to you for advice on how they can make contributions to the causes closest to their hearts, without breaking the bank. In the first two installments of this […]

By Dave Ablett |December 16, 2005

4 min read